People are impatient. There's no denying it. Think about the last time you were at a stoplight and the tard next to you was creeping forward before the light changed. Or maybe you were that tard. Congratulations sir, you arrived at your destination 2 seconds sooner than you would have otherwise. No need to rush; you aren't as important as you think you are. No one will miss you, I promise.
As I was traveling last weekend, I realized how impatient everyone in our society has become. In fact, it blows my mind. I was in the 5th row on an airplane and we had just landed and arrived at the gate. I looked back and 80% of the people on the plane were standing. The door wasn't even opened yet...I mean wasn't "disarmed" yet. Easy there speedsters, I know you have been sitting for an entire hour and a half, but 75 people have to get off before you so what's the big deal with sitting another 5 minutes? Not to mention the lady behind me who actually asked me "are you getting off?", as far as I could tell, only because I will still sitting. After I realized this was a serious question, I replied with "yes, after the people in front of me do." I was nice. Rheotorical or not, what a stupid question. What impatience.
This impatience is the fault of our society. Everything is based around making things faster, making things easier. At least that's how it seems in the U.S. When I was in Spain two summers ago we waited over an hour for our bill at lunch. Not because the server was being rude, but because they are in less of a rush on the other side of the pond. They don't always feel like they are missing something (as far as I could tell, atleast). I wonder, are they better investors?
This is a reason I feel one must invest to learn when learning to invest. I read numerous books telling me wait for a pullback before you buy. Be patient. You won't miss it; if it's a good company you wont miss it. The only problem is, you haven't convinced yourself this is the truth yet. You're your own enemy. I'm telling you not to make this mistake. Either wait for the company to be severly undervalued, or find another company. There, I told you what not to do. Don't worry, you'll make the mistake anyways. I did. And I even waited for a pullback. CNAM took a huge jump to the 11 dollar range after it's uplisting. Then it pulled back to 7. Hey, pullback. BUY! So I bought. Only problem was, and what I didn't realize yet, is a pullback and being undervalued are two incredibly different things; especially when the company is still overvalued after the pullback! I still like CNAM despite the $0.02/share loss posted this recent quarter because I'm looking at the future. They have the means to be posting 400 million in revenues if the macro effects would stop playing their trump card. If that's the case, my original 7+ dollar order won't kill me. And I bought more on the way down so my cost basis is considerably lower. But, we'll see what happens. Could holding here be a rookie mistake? Maybe. Am I going to hold? You betcha. I like the future, I try to forget the past (especially if it's already priced in).
Don't be your own enemy, but I'm willing to bet at some point you will be. Hell, I'm willing to bet at some point I will be again. But, maybe one day I'll learn. At least that's the idea.
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